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21 marksMarket Failure

CAPE Economics Unit 1 · 2006 · Paper 2 · Question 4(b)

Explain how each of the concepts listed in 4(a) causes a market to fail.

The mark scheme is shown once you've answered.

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Other parts of this question

  1. 4(a)(i)Public goods[5 marks]
  2. 4(a)(ii)Externalities[5 marks]
  3. 4(a)(iii)Asymmetric information[4 marks]
  4. 4(c)(i)Taxation[5 marks]
  5. 4(c)(ii)Subsidies[5 marks]
  6. 4(c)(iii)Regulation[5 marks]

More practice: the rest of this paper · more Market Failure questions · all CAPE Economics Unit 1 past papers